How Does Purchasing A Home Compare With Renting?
Struggling with the decision of whether to purchase or rent your next South Florida home?
Like the guy in the video says, the two don’t really compare at all.
The one advantage of renting is being generally free of most maintenance responsibilities. But by renting, you lose the chance to build equity take advantage of tax benefits and protect yourself against rent increases. Also, you may be at the mercy of the landlord for housing.
Owning a home has many benefits. When you make a mortgage payment, you are building equity increasing YOUR net worth. Owning a home also qualifies you for tax breaks that assist you in dealing with your new financial responsibilities like insurance, real estate taxes, and upkeep which can be substantial.
But given the freedom, stability, and security of owning your own home they maybe worth it.
At All Florida Title we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at at 954-566-2200.
In case you missed it, check out our last All Florida Title Company post: What Is A Rate Lock?
